Second homes
Galveston, Hill Country properties can fulfill getaway-home wish
When thinking about buying a second home or just back from vacation and now considering buying a vacation home, what do you need to factor into your decision?
Next, do you have adequate disposable income? Realtors in the Galveston Island and Texas Hill Country areas said the majority of buyers they were working with were averaging around 50 years of age or older, and “empty nesters.” The next largest group of second/vacation home buyers are millennials, looking to make memories with their growing families. For all ages, the final big question is: Do you have the time and resources to enjoy a second home? If not, would you want to rent your forever home in retirement into vacation rental? Denise Graves, a Realtor with The Graves Group in The Dominion in San Antonio and in Boerne, has been selling Texas Hill Country properties since 1991, and said Hill Country real estate is moving well. “Second home and vacation home properties in this area go for anywhere from $800,000 and up,” she said, “and highend sales are brisk.” “There’s a lot of demand,” Graves said. “People like Hill Country in general and Texas is seen as a safe place to invest. Our prices look good and we have wine country, water, hills and major airports ... plus smalltown ambience.” Anthony Jensen, MLS chair and broker for Zap Realty in Galveston, focuses on mid-town properties. “Galveston’s West End is a retirement and winter Texan haven. We’re seeing a growing demand for vacation rentals in mid-town, which gives visitors an opportunity to live among the locals. About 90 percent of the buyers we see want either older homes or beach properties. The other 10 percent are seeking homes close to the University of Texas Medical Branch.” Many second-home owners subsidize costs by using their second homes as vacation rentals. “Mid-town Galveston properties average between $250,000-$300,000,” Jensen said, “and 30 percent of home buyers convert second homes into vacation or long-term rentals.” Realtor Claire Reiswerg with Sand ‘N Sea Properties covers the West End, from Beach to the Bay. “Despite oil’s downtown, interest is very strong in Galveston’s West End, where prices range from $350,000 to $800,000. Most buyers are Texans, and if they buy a second home on the beach and continue to love Galveston, they’ll sell the beach house and move to the bay,” Reiswerg said. Reiswerg, whose company manages more than 150 vacation homes, said there are 2,000 vacation homes on the island, and an improved Galveston State Park, just down the road, is a gem, offering beach-exploration walks every weekend to visitors. “The uptick in real estate sales is due to Galveston’s ongoing renaissance, including reclaiming and expanding beaches and adding amenities along the Seawall. “Galveston is getting better every year,” she said.
The following may help you decide whether a vacation home is the right choice:
What about the neighborhood and surroundings amenities? If you and your family enjoy water sports, are there facilities nearby? What about proximity to activities you enjoy, such as theaters, shopping, bike trails, restaurants, etc.? Do you and your Realtor believe this property will maximize your investment? Is this property a fairly easy drive (or flight) from your primary residence? Are there nearby venues — resorts, hunting/fishing areas, spas — that will enhance the value (with lifestyle offerings)? Are you planning to lease this property for part of the year? This question should be answered before beginning your search, as this information will assist in choosing property.
“Galveston’s West End is a retirement and winter Texan haven.” – Dennis Graves, Realtor